Law360 (February 6, 2020, 8:45 PM EST) -- Canada and an Exxon Mobil Corp. unit have settled a North American Free Trade Agreement arbitration over mandatory research and development expenditures relating to the company's investments in two oil fields off the country's eastern coast.
The tribunal administering the dispute issued an award "embodying" the parties' settlement agreement on Tuesday, according to a case update posted by the International Centre for Settlement of Investment Disputes.
The pact comes some 18 months after the tribunal rejected Canada's argument that the dispute, in which Mobil Investments Canada Inc. was seeking nearly $15 million, had already been decided in a previous arbitration....
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https://www.law360.com/articles/1241697/exxon-mobil-unit-settles-oil-field-claim-against-canada
2020-02-07 01:45:00Z
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